Here is my last post about the TAIEX:
The triangle I labeled is actually a triangle in a smaller degree, the wave 5 I anticipated is actually the 5th wave of wave iii
Now TAIEX is forming another running triangle, which should follow a "thrust" to wave v
This analysis is designed to provide information that CTS believes to be accurate on the subject matter, but is shared with the understanding that the author is NOT offering individualized advice tailored to any specific portfolio or the particular needs of any individual.
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The price of TAIEX has been going up after bottomed at 2020/3/19,
and it used 2 months to form a Running Triangle (2021/1/21-2021/3/25),
therefore I expect the price is now heading to the last wave
According to my point of view, the micro wave 1 and 3 has finished,
it will be invalided when the price goes above 17819.78
Furthermore, another "evidence" also...
This is our idea from last October on the FTSE TWSE Taiwan 50 Index.
Well , first let's understand why Taiwan is such a great place to live and invest
Also, How Taiwan beats China to be Asia's top-performing economy
The rest is just history, Taiwan is a miracle.
This chart is pretty simple. It basically reminds investors that the Taiwanese stock market is highly positively correlated with US equities using the S&P 500 index as the primary proxy of US stocks. We can see that positive correlation with the correlation coefficient below. The Nikkei 225 is as well. However, TAIEX RSI is nearly flashing overbought and all three...
TAIEX enjoys a positive correlation coefficient with the Shanghai Composite which has strengthened consistently over the past few months. Then if we believe that a trade deal with the US is coming then the TAIEX will surely enjoy some gains as well even especially since TAIEX greatly outperforms Shanghai Composite and Shenzhen Component. However, TAIEX RSI is well...
While RSI and Bull/Bear sentiment have edged away from clear overbought signals, we are continuing to see exponential moving averages assert their authority in suggesting the uptrend will continue. This is the case for the 'ribbon' of EMAs excluding the five day EMA which price action has dropped below. In the short-term I am a bit bullish on Taiwanese equities...